Amelia opened a savings account and deposited 500.00 as principal. The account earns 12% interest, compounded annually. What is the balance after 4 years?

Solución

Solución

Amount : 786.76

Pasos de solución

Translate the problem into an equation:

A = 500 (1 + \frac{0.12}{1})^{1 \cdot 4}

500 (1 + \frac{0.12}{1})^{1 \cdot 4} = 786.75968

Round to the nearest hundredth:

786.76

Amount : 786.76

Ejemplos populares

Two numbers have a sum of 13 and a difference of 5:What are these two numbers?This year the number of dog grooming appointments at the local pet store was 725. Each year the number of appointments increases by 3%.The radius of a circle is 3.8 m. Find the circunferencia to the nearest tenth The sum of the reciprocals of 2 consecutive integers is 23/132 . Find the numbers An ordinary die is tossed. What is the probability of getting a 3 or a 4?